Long term Forex success continues to elude some people.  We have learned by running Forex signals services that the struggle for most people trying to profit in Forex has little to do with the strategy they use.  It DOES have a lot to do with they way they approach Forex trading and what there goals are.  Interestingly enough, looking at Netflix can give us some insight into the right way to achieve long term Forex success.

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Now we are not talking about binge watching TV shows on Netflix.  (However, we just finished Bloodlines, which was great).

We ARE talking about looking at Netflix as a business.

We were reading a post about Nextflix on the blog, The Day Tradette.  You can check out the blog post here: http://thedaytradette.com/netflix-earnings-how-my-5000-win-cost-me-26000/

Here are some thoughts we had:

Treating Forex Trading Like A Business –
Key To Long Term Forex Success

We always tell our subscribers they need to treat Forex trading like a business.  A business seeks to make more money than it spends.  (Spending money as a Forex trader includes the cost of losing trades).  And a business measures its success over the long term.

Let’s look at the Netflix stock over a 5 year period:

Netflix

As we tell our subscribers, any business is going to see times of growth, consolidation and drawdown.  You can clearly see this on the graph for Netflix stock.

Now, if we walked up to someone on the street and asked then if they would like to be the owner of Netflix, we would expect them to say “YES… of course”!  Netflix is huge and wildly popular… and makes a lot of money.  But that does not mean the profits have just been a straight upward line.  Would those same people survived the drawdown and consolidation periods?

Our thoughts are this…

If this was a Forex trading account, most traders would have been extremely happy in the beginning when price was on a stead rise.  But then came a considerable drawdown.  In our experience, most traders would have abandoned the trading strategy, (or quit the signals service they were using)By doing so they would have missed out on a LOT of profits.

We think one of the struggles running a Forex business is how easy it is to abandon what you are doing.  Compared to building a business like Netflix, it is very easy to quit.  Whereas, when you’ve invested so much time and money into a “real” business, it is very hard to give up.  Pushing forward a lot of times is what leads to future profits… as we see here with Netflix.

Take away: Treating Forex as a business means sticking it out even when times are rough.

Thinking Like An Investor –
Second Key To Long Term Forex Success

Long term Forex success hinges on one very important thing.  You must do it for the long term.  Only then, if you are trading a strategy with an edge, will you get the profits you deserve.  You need to suffer through consolidation and drawdown to let those growth periods put you into profit.

Let’s go back to the blog post we were reading:

Rachel explains how she made $5,308 in 2 weeks when she sold her Netflix stock.  Then she goes on to explain how this was a BIG mistake that cost her $26,000 in potential profits.

Here is what she said…

“And that my friends, is why I became a long term investor. Unless you’re a quant genius, the path to riches is paved with investments, not trades. Warren Buffett (an idol of mine) would tell you the same”.

As we tell our subscribers, it is not about the results of one trade, or trading day, week or month.  Long term Forex success is about how to systematically grow wealth over time.  Seeing the big picture and trading with an INVESTOR mindset is the true key to long term Forex success.

We hope some light-bulbs have started going off in your heads.

For example:

  • Treat your Forex trading like a business… and businesses go through periods of growth, consolidation and drawdown, just like we saw with Netflix.
  • True wealth is achieved by focusing on the long term growth… not just making some money on short term trades.

If this makes sense to you, and you want to become an independent, confident, profitable trader using a trading strategy that achieves long term Forex success… please check out our Forex SOS Course.

**ATTENTION**

Starting in 2016 we here at Forex Investing Live are shifting our focus from Forex Signals to Forex Education.  Our belief is we can help more people become profitable traders through education than just providing signals.

As a visitor to this site, we have created a DEEP DISCOUNT for our
“Forex SOS Course: Trading Tweaks & Working Trading Strategy”

Get Your Discount Coupon Here!

*****

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Long term Forex success continues to elude some people.  We have learned by running Forex signals services that the struggle for most people trying to profit in Forex has little to do with the strategy they use.  It DOES have a lot to do with they way they approach...